Shareholding in Company

Smith(David S)(Holdings) PLC
12 December 2000


Letter to Company Announcements Office


We write to advise you that while Phillips & Drew continue to have an interest
in the shares of the Company, we have been informed that it has ceased to be a
notifiable interest for the purposes of Part VI of the Companies Act 1985
since it represents less than 10% of the nominal value of the issued share
capital.


Letter from David S. Smith (Holdings) PLC
CAROLYN CATTERMOLE - COMPANY SECRETARY